Husband made redundant, DMP help!

cherylclarke

Hi

We started a DMP with CAP in December to deal with our debts, largely amassed when my husband was made redundant just before Christmas 2013.

On Wednesday my husband was made redundant again, and he is only entitled to notice pay of 4 weeks because he had been there just 2 days shy of a year. So basically he has one salary due at the end of this month and then we are reliant on mine. I earn £1034 a month, husband earned £2500 a month, DMP is £1081 a month and mortgage hopefully covered by insurance. He has an appointment re.benefits this week, we have informed CAP of our change of circumstances but no response yet. I'm really scared that this is it, we will lose our house etc.

The economy is not good here just now, oil industry screwed because of oil prices so nobody is hiring. It is a nightmare. Please somebody some advice!

Murphy2011

Didn't want to read and run, I can't offer any advice other than talk to CAP really but at the end of the day your creditors can't take what you don't have.
I feel for you because my husbands redundancy was also a big part of the reason why we ended up with our DMP, it's frightening but you came out of it before and you will this time.
There is loads of help here and also on the Moneysaving boards, keep your chin up, it will be ok.

On_my_way

Hi

Firstly, sorry to hear about your husband's second redundancy.

I don't have the indepth knowledge that many do on here but I would say the first thing that you both need to agree is to seriously cut down your spending right now. There are so many tips on this forum including how to live on very little money. Even with a top up of benefits etc you are going to need to be extremely careful for a while.

I hope your husband can find more work very quickly.

I am sorry to hear your news and know that you will be able to get through this. You won't lose your house as you are going to act now and make sure that you can keep it.

Good luck.

Sazzie23

Ok Cheryl, big breath in and out, in and out, in and out...now I know you are having a mega panic, and I totally understand why, of course we'd all be panicking in your situation.

I'm going to assume you've been able to stick with the DMP,so far? I know it's a really short time, but the creditors know you are some,of the good guys? And if DH gets another job, you will start making the repayments again....of course you will. DH hasn't even had time to look for another job, he found one before and he will again. Not sure how CAP will approach it but I think they would advise to contact creditors and let them know the circs, consider what payments you can make, after essentials like mortgage and elec, counc tax etc. you might have to go back to token payments £1 per creditor per month for a while. At the worst I'd have thought DMP creditors might issue a CCJ, but even that'd be worthless if you are paying what you can already.

Don't hide from it, don't be ashamed by it, fess up and face it head on, you have the strength to get through this. There area other agencies that might help,such as. National Debtline and Stepchange but I've no reason to think CAP are any less god, sorry I meant good.

I found reading the rights of bailiffs and DcA on the stepchange website really useful at putting my mind at rest.

FatVonD

cherylclarke wrote: »

mortgage hopefully covered by insurance.

I don't know anything about DMPs but this bit stands out to me. It sounds like you have, what, a year (?)of the mortgage being paid so you have some breathing space for your husband to look for another job so take some deep breaths.

Hope it all works out for you

cherylclarke

Thanks everyone for your replies. I know that there isn't really any solution to be had other than for him to find a new job quick! I just feel so helpless, especially as it keeps happening. Our mortgage is covered for 9 months by the insurance, I am on a permanent contract and (fingers crossed) all is ok for now there.

We can't really cut back any more than we have in living costs as we had a massive cull before we started CAP and are really living very frugally already covering priority bills, not taking on additional credit, paying cash for everything.

The only thing we can really cut is the monthly CAP payment towards our DMP itself - I am hoping that our creditors will accept a reduction for a short time until we get sorted out. I contacted them last week but haven't heard anything back yet so no further forward there.

I sound very self-pitying but it's just such a blow when we had finally faced up to our debts, had started working towards clearing them and now we have had another set back and things become scary and uncertain again.

Thank you everyone.

On_my_way

Is there any way that you can work extra hours for now? Perhaps your boss could help you out and offer you more hours for now?

cherylclarke

Hi yes definitely will do this, they have said they can maybe offer an extra couple of hours weekly. My employer has been brilliant really.

CAP came back to me today - £10 a month till further notice. Token payments only. Could have kissed them! But then they might have changed their minds!

On_my_way

Ok, that's great. Extra hours plus the other money saved is great but you need to make sure that you seriously keep to your budget and don't overspend because your bills temporarily fall.

I hope everything works out well for you. I am sure it will. The best thing is to communicate with them.